IPA Opens North Scottsdale’s Newest Luxury Apartment Community

Investment Property Associates (IPA) celebrated the grand opening of its first multifamily development in Scottsdale with a ribbon cutting ceremony at Liv North Scottsdale. The luxury apartment community is situated on 5.83 acres near the corner of Scottsdale Road and Greenway Hayden Loop in North Scottsdale. IPA co-developed the property with PB Bell & Associates.…

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MARCUS & MILLICHAP SELLS MULTIFAMILY ASSET IN CENTRAL PHOENIX

Marcus & Millichap Real Estate Investment Services has announced the sale of Toscana Apartments, a 24-unit apartment community located in Central Phoenix, Arizona. The asset commanded a sales price of $1,750,000 or $72,917 per unit. Brian Tranetzki and Rich Butler, multifamily investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing assignment to…

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NorthMarq Capital negotiates $41 million in acquisition financing for Campus Marketplace in San Marcos, California

James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix based regional office secured acquisition financing of $41 million for Campus Marketplace, a 144,287 sq.ft. retail property located at 300-380 S. Twin Oaks Valley Road in San Marcos, California. NorthMarq arranged financing for the borrower through a CMBS lender. Major tenants include Ralph’s and CVS.…

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WOOD PARTNERS AND AMERICAN REALTY ADVISORS ACQUIRE 350-UNIT MULTIFAMILY COMMUNITY IN PHOENIX’S CAMELBACK EAST SUBMARKET

Wood Partners, LLC, in partnership with American Realty Advisors, has acquired Pinnacle Towne Centre, an existing 350-unit multifamily community at 1601 E. Highland Avenue in Phoenix’s Camelback East submarket, and plans to renovate the property into an upscale townhome community named Altera Highland. “Built in 1998, Pinnacle Towne Centre offers Wood Partners the opportunity to…

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THOMAS BRADFORD COMMUNITIES ACQUIRES NEWPORT MESA APARTMENTS IN MESA, ARIZ.

Thomas Bradford Communities has acquired Newport Mesa Apartments at 1620 W. Southern Avenue in Mesa’s Fiesta District and is launching an “urban repositioning campaign” that will bring a fresh, updated feel to the 156-unit property, which has been renamed Urban Trails @ The District. “With its urban location near Starbucks, Pita Jungle and other trend-setting…

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JLL Closes $18 Million Indigo Multifamily Sale

The Phoenix office of JLL has completed the $18.1 million investment sale of Indigo, a formerly fractured Phoenix condominium asset that over 24 months was transformed into a high demand, 108-unit Class A apartment community. JLL Executive Vice President John Cunningham and JLL Vice President Charles Steele represented the seller, Seattle-based Goodman Real Estate. The…

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Class A Trophy Locations Shine in Phoenix Office Market Rebound

As the Phoenix office market continues a steady recovery, buildings in trophy Class A locations are quickly differentiating themselves as leaders of the pack. Representing 4141 N. Scottsdale Holdings LLC, JLL’s Capital Markets experts today closed on one of these assets, located in the heart of downtown Scottsdale, Ariz. JLL also secured $26.5 million in…

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LGE Design Build Completes 14,000 SF Livewire Music Venue in Scottsdale

LGE Design Build has completed the construction of Livewire, Arizona’s newest premier 14,000-square-foot live music venue bringing fresh nightlife to the former development known as Axis/Radius in the entertainment district of Scottsdale. Livewire, located at 7340 E. Indian Plaza, includes a stage, two interior bars and a second floor balcony fronting the street. Livewire also…

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CUSHMAN & WAKEFIELD’S CURTIS CHICKERNEO NAMED TO BOARD OF DIRECTORS OF YOUTH AND FAMILIES FIRST

Curtis Chickerneo of Cushman & Wakefield of Arizona, Inc. has been named to the board of directors of Youth and Families First, a behavioral health agency which provides youth and families with support and services. Chickerneo became involved with YAFF when he negotiated lease transactions for the organization in 2014 in Prescott, Glendale and Tucson.…

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